What Is A Business Advisor?

January 24, 2022

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Do you possess valuable insights from your experience leading teams and running operations? You can use these to inspire and motivate leaders - with less experience - as they embark on growing their businesses. A business advisor can play a pivotal role in positively impacting the trajectory of a business by using their experience to provide informed opinions and offer advice.

What is a business advisor

What is a business advisor?

The role of a business advisor is to help senior leaders make informed decisions. Businesses may hire advisors based on their experience in a particular field. For instance, a SaaS business might choose to hire a business advisor with extensive experience successfully scaling SaaS businesses throughout their career. They could provide tremendous value to the business.

What does a business advisor do?

Ultimately, the role of a business advisor is to provide senior leaders with as much value as possible by drawing on past experience. While some advisors are expected to offer general business advice, others may specialize in providing advice in niche areas. For instance, if a software company is suffering from high churn, they could hire a user retention advisor.

The user retention advisor could offer practical advice and implement solutions that directly address the software company’s high levels of customer churn. While the senior leadership team may have an understanding of how to approach the problem of low customer retention, hearing the opinions of other experienced professionals can help to inform decision-making.

How do I become a business advisor?

What can you bring to the table? This is the central question that you must ask yourself. If you have valuable insights from scaling businesses or working as part of a team to solve specific problems, you will likely find it easy to land advisory roles at companies. Those with experience consistently solving common and specific business problems can make great advisors.

In some cases, it’s better to operate as a company advisor specializing in a specific niche or area than simply marketing yourself as a good all-rounder. If you’re marketing your advisory or consultancy services to companies in a specific industry, the senior leaders will want to know what level of contribution you can offer and what qualifies you to offer advice on an issue.

With professional connections in your industry, you can make contact with younger leaders that may benefit from your unique insights. You could also reach out to businesses in early-stage growth that want to take things to the next level. You can draw on your experience of “taking things to the next level” and provide these leaders with the building blocks for success.

How much experience does a business advisor need?

The more professional experience you have under your belt, the better. At the same time, it’s perfectly possible to sell your advisory services with just a few years of experience in a certain field. It all comes down to what you have achieved. If you have reached major milestones and achieved considerable success in a short period of time, you can offer plenty of value.

The busiest and most prolific advisors tend to specialize and focus on helping businesses address and solve a specific problem. With a proven track record of results, they can easily market their advisory and consultancy services to businesses experiencing a similar problem. It’s all about establishing a unique selling point and distinct value proposition as an advisor.

While there’s fierce competition in the business advisory and consultancy world, a unique value proposition is all you need to stand out from the crowd. Every successful business leader has unique insights to bring to the table that carry different levels of perceived value. To win clients as a company advisor, you must work out where you fit in the market.

What skills do small business advisors need?

As a small business advisor, you should have experience running and managing small businesses. When you present a proven track record of success to small business owners looking for an advisor, this can make all the difference. If a small business owner gains access to your wealth of knowledge, it should help them to address and solve a persistent problem.

Communication is the most important skill for a business advisor to possess. When you market yourself as a small business advisor, rather than focusing on professional skills, it’s often better to market yourself as a problem solver - who draws on past experience to deliver informed and effective advice to business leaders. This can help to elevate the overall value proposition.

How can a business advisor leverage software?

To hit the ground running as a business advisor, you must have access to a robust workflow management system that enables you to simplify key processes and centralize all client communication. When you have the right platform at your disposal, this can radically simplify your workflow and enable you to effectively deliver for multiple clients at the same time.

StartingPoint is the go-to workflow management solution for business advisors and consultants working with multiple clients. If you want to provide each of your clients with a truly seamless experience, you need to bring everyone under one roof. Centralizing your client workflow can improve efficiency and enable you to dedicate more time to meeting client needs.

What is the best workflow management software?

As the best workflow management software on the market, StartingPoint can provide you with workflow automation solutions to streamline all aspects of your advisory and consultancy work. If you’re struggling to juggle the needs of multiple clients, StartingPoint can bring order to your operations and enable you to onboard more clients without fear of feeling overwhelmed.

Are you ready to take StartingPoint for a test drive? Get started for free today.